My Thoughts On The Economy....

[trhland]

everys house we pull up to to do there spring cleanup . my customers are coming out side and . all saying the same thing to me.. how are you doing?? howes business? did you loss a lot of money? and then my customers say to me. ohh i lost a ton!!! my 401k is gone!!! things are so bad!!!!.. and to tell you guys the truth . im tired of talking about it every day!! i just want to go one day with out someone complaining about the economy... my thoughts are this.. people need to stop talking about the economy so much. stop watching all these political shows . because the more we talk about is not helping . its just scaring us.. and the news isnt helping.. well just my 2 cents...


tom

 

[loudog2]

I totally agree. Recessions are part of life. We have had many over the years, and survived all. Yes it is tough, but people need to be smart. The news and some people are making things worse.

As for your customers. I'm in sales also. Everytime I hear doom and gloom from them, it's because the people want a discount. It might sound bad, but it's the truth. Yes they might have it tough, but business is business. just my thoughts

 

[Dsoto87]

You cant walk around like nothings going on. Things are bad. The recession may not have affected you or your area of work, and it may never, but stuff is going down hill.

I dont even watch political shows, but I dont have to to know how bad it really is. Everyday more and more business are closing shop. California has a double digit unemployment rate and it doesnt look to be changing anytime soon. My job relies on other peoples business staying open. If they go down, I lose my job. Where will I go with millions of others flooding the job market?

Like I said, Im glad you can go on living without having to worry about job security, but just because youre fine doesnt mean everyone else is. Im sure your customers have families to feed. It can get annoying to hear the same thing over, but it is a little scary. I dont mind chit chatting with my customers about this. I guess its a little reassuring to know Im not alone.

ecessions are part of life. We have had many over the years, and survived all. Yes it is tough, but people need to be smart. The news and some people are making things worse.

Being smart wont cut it anymore. People are losing everything. Jobs that were thought to be safe/recession proof are being cut. Investments that were thought to be foolproof are losing value.

 

[loudog2]

It has affected my area of work. I went through it myself, and have cut back myself just in case. I'm just saying that if things are tough, then maybe the people should cut back. If it is so bad for them. Why are they having someone do yard work, detailing their car and getting other novelties? If they are having these things done and complaining about having no money, that's wrong. I know that is bad for Tom, but it's true.
I also agree that the news is making things worse.

 

[67Customs]

and to tell you guys the truth . im tired of talking about it every day!!


tom

So lets make a thread about it!!!

:joking:

I mean no harm. I just found the irony too funny to pass up.lol

 

[Dsoto87]

If it is so bad for them. Why are they having someone do yard work, detailing their car and getting other novelties?

True, I wasnt talking specifically about people whose car I detail. Im a mail carrier so I was just talking about everyday people on the street who may have already cut back or even have lost their job.

 

[loudog2]

True, I wasnt talking specifically about people whose car I detail. Im a mail carrier so I was just talking about everyday people on the street who may have already cut back or even have lost their job.

I think I wasn't clear. My bad! The people who got caught in downsizing and etc, couldn't do anything about it. I'm talking about the person who hires you. Then stands over you while your detailing their car, saying how they have no money and can't afford this.

 

[Dsoto87]

Yea thats more clear. It doesnt make any sense to be complaining about losing money if youre at the spa getting a massage.

 

[img]

Your giving massages with you detail--good marketing ideas.

 

[trhland]

 

[ScottB]

work in the Financial Industry, cannot imagine the stories and those crying on your shoulder looking to save their homes. One part feels bad, the other part condemns them for taking such risks.

 

[Dsoto87]

The thing that gets me mad about all this is this stupid bailout.

The idiot banks who gave out loans to some people knowing how high risk they were get bailed out. The people who took those outrageous loans and can no longer afford the house get bailed out....

But what about those hardworking families that didn't try living beyond their means but are struggling day to day just to make it. Where's the help for thwm?

 

[trhland]

afew years ago i got approved for a morgage and . was getting pushed to buy . and i held off . good thing i did ..

 

[ScottB]

The thing that gets me mad about all this is this stupid bailout.

The idiot banks who gave out loans to some people knowing how high risk they were get bailed out. The people who took those outrageous loans and can no longer afford the house get bailed out....

But what about those hardworking families that didn't try living beyond their means but are struggling day to day just to make it. Where's the help for thwm?

Trust me the banks were forced to do the wrong thing in some cases as Fannie Mae and Freddie Mac forced open some lending practices that were not good business all in the name of Equal Housing and other laws. Not saying we should not take the blame also. But who signed the docs, I never once held a gun or threatened anyone. I did the best I could to truly explain the benefits and detractions to every deal.

I do however take offense to these people taking advantage of the situation and playing the system. Nobody is giving me a free hand out or making me richer for the losses I took in the stock market. I measured the risk, I took the gamble, and I loss. I am indeed responsible first and formost for what I do and my family !

I believe loans should be modified to fixed loans, I believe terms should be extended to make payments affordable and that likely means 40 / 45 / 50 year terms. I then believe the owner has the responsibility to measure the decision to move on in home, foreclose, or short sale as possible. Their credit should be heavily scrutinized for the next 10 years for any new or additional credit. It should not be so easy to go get a new 50 TV from BB while in the midst of a foreclosure !

If you lose you job thru no fault of your own, the lender should see the hardship and move 6-12 payments to the end of the loan. It costs them little to modify the deal, and gives you the power to find new employment and keep your family in home during a crisis.

I guess we make it to easy to walk away and chalk it up to a bad choice. Unfortunately our children will pay the brunt of it with high taxes for years to come while we print money at an alarming pace.

Responsibility is not something were given, its something we are taught and a trait far to often walked over in the name of greed and irresponsibility. It is ashame those of us that have tried to be responsible, worked hard, lost jobs, and came thru it by sheer determination watch those sitting back and using the loopholes to further themselves.

(Off Soap Box)

 

[Craig]

"Trust me the banks were forced to do the wrong thing in some cases as Fannie Mae and Freddie Mac forced open some lending practices that were not good business all in the name of Equal Housing and other laws."
Thank you for that statement Scott. That one word says it all, "forced".
All to say "Equal Housing", now everyone feels good. Thank you Barney
Frank.

 

[broker99]

My question is how bad is it going to keep before it gets better. I am sick of all the money that Washington is spending and nothing is working. If we have to face another great depression I say lets get it over with. Printing all this money is going to cause hyper inflation.

 

[Craig]

This is known as "CHANGE". You're sick of Washington spending money? It's ours, and you think they care. Good thing we have deep pockets. I wish they would print me some cash. Just think, couples that haven't met yet, their kids, will be paying for this.

 

[img]

Know what you mean. Just finished my taxes. The IRS is going to paid in installments this year. Same thing I'll have to do with Tornador, unless they go on sale.

 

[Rsurfer]

Trust me the banks were forced to do the wrong thing in some cases as Fannie Mae and Freddie Mac forced open some lending practices that were not good business all in the name of Equal Housing and other laws.

Killr, you hit the nail on the head. This was the cause of the housing crisis and the down turn in our economy.

 

[ScottB]

My question is how bad is it going to keep before it gets better. I am sick of all the money that Washington is spending and nothing is working. If we have to face another great depression I say lets get it over with. Printing all this money is going to cause hyper inflation.

I believe we are starting to see some progress. The market has been up for two weeks overall and some positive markers are being seen. That does not mean its not going to be all peachy and roses.

You are however right in inflation, as we have not yet begun to see what this printing of $$ will cost us. Imagine 5.00 bread, 6-8.00 gas by the gallon, 5.00 milk ... and thats not considering most will not see raises, cost of living increases, and lucky to hold on to employment during these challenges. Add into it that taxes must increase to foot the bill of these spending spree's and we still could see huge property, income, and other taxes shortly. Retirement, that too will be extended or cancelled for a good part of the baby boomers generation which was set to start this year.